Germany-based retailer Rewe Group has confirmed plans to invest further in its Romania operations over the next two years.
A spokesperson for the group told just-food today (31 May) that it plans to invest EUR58m (US$75.3m) in its operations in this financial year and a further EUR50m in 2014. The investment will be made across its Penny and Mega Discount stores.
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Rewe said it will look to modernise stores and expand its network. Around 20 Penny stores and one Mega Discount store will be added every year, the spokesperson said.
He added: “The modernisation will be across 40 Penny stores in 2013 and 20 in 2014. The modernisation of XXL Mega Discount is almost complete.”
The German retailer has had a presence in Romania for over ten years and currently operates around 137 Penny Market and seven Mega Discount stores.
In 2012, Penny Market stores recorded a turnover of around EUR10.3bn, up 3.6% on the prior year. In Romania, the chain saw sales increase 7.8% to EUR378m. The sales network expanded by 10.3 % to 128 stores.
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